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An insured’s overall personal property limit per loss would usually be reduced by any recoveries received that are subject to these special limits. These special limits described in the charts above represent the total amount that a company will typically pay for a loss of property in the specified category. On property away from the residence used at any time manner for any business purposeįor loss to electronic apparatus (antennas, tapes, wires, discs, etc.) in or on a motor vehicle On property on the residence premises used or in any manner for any business purpose On securities, accounts, deeds, letters of credit, etc.įor loss by theft of jewelry, watches, furs, and precious and semi-precious stonesįor loss by theft of silverware, silverplateware, goldware, and pewterware On money, bank notes, bullion, gold & silver Here are some examples of typical limitations: Coverage In addition to limits on specific categories of property, there are generally further limitations for specific types of property. If you think you need coverage exceeding these percentages you should contact your insurer. The coverage amounts set forth in the chart immediately below, expressed as a percentage of the amount your dwelling is insured for, is the amount you are generally provided by most insurers under a Special Form Policy (discussed above): Coverage The following shows this relationship for the most widely used policy, usually referred to as the Homeowners Special For. The amount of coverage available for certain personal property and other losses is generally related, by percentage, to the amount for which the dwelling is insured. Basic Coverage and Adding Additional Coverage

Review all of the the personal information for errors, and check that it reflects the proper coverage levels, as well as any additional riders you may have added.

Information included on the declaration page will look similar to our sample declaration page, and should include: It summarizes your coverage, as well as your personal and home information. Your declaration or "dec" page should be reviewed carefully. It is also important to review your existing insurance policies periodically to make sure they provide adequate coverage. While the majority of insurers use fairly standard forms to compile their homeowner policies, there can be differences. Examine coverage and costs by comparing the offers of more than one insurance agent or broker. When shopping for insurance, get references and talk with relatives and friends about their insurance experiences. It is up to you to purchase the policy that best meets your needs. It is important for homeowners and renters to make sure they understand their insurance options. Disasters and other unexpected losses can occur at any time.